In this edition we enter into detail on the following subjects:

  • Energy crisis and public budget:
    How do our different governments respond to the energy crisis, specifically within the Real Estate sector?

  • Flanders Region - New energy-linked obligations:
    At the end of October 2022, the Flemish government published a draft decree with a.o. a reduction of the validity of the EPC-certificate and an obligation to install solar panels for buildings with a large offtake.

  • ”Heavy repairs”, defined… or not?
    Book 3 of the new civil code created a legal framework for heavy repairs in case of usufruct. Can you use it also for lease agreements?

  • Reform of contract law:
    The law introducing book 5 of the new civil code was published and will enter into force on 1 January 2023. What are the main consequences for the Real Estate sector?

  • EU Sanctions against Russia - impact on real estate investment:
    We specifically focus on the question whether you can lease to or from blacklisted companies.

  • 6% VAT rate for demolition & renovation extended:
    The temporary reduced VAT rate would initially end on 31 December 2022. A Royal Decree extends this period with 1 year and relaxes the conditions to apply the reduced rate when installing solar panels.

  • Asbestos in het Flemish Region - why 23 November 2022 is a key date:
    As of this date, a seller of a building located in the Flemish Region, constructed before 2001, must provide an asbestos certificate prior to the sale.

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Chambers Global Practice Guide: Banking Regulation 2023